Metro Inc. Stock Forecast
Metro Inc. stock downgraded to Hold/Accumulate
(Updated on Jul 02, 2024)
The Metro Inc. stock price gained 1.74% on the last trading day (Tuesday, 2nd Jul 2024), rising from $75.79 to $77.11. During the last trading day the stock fluctuated 2.44% from a day low at $75.37 to a day high of $77.21. The price has risen in 8 of the last 10 days and is up by 4.51% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 45 thousand more shares were traded than the day before. In total, 445 thousand shares were bought and sold for approximately $34.28 million.
The stock lies in the upper part of a weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $77.49 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 8.00% during the next 3 months and, with a 90% probability hold a price between $79.64 and $83.69 at the end of this 3-month period.
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MRU.TO Signals & Forecast
The Metro Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $75.74 and $74.37. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, June 19, 2024, and so far it has risen 5.63%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. The stock had a Golden Star Signal on Wednesday, February 14, 2024 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Wednesday, February 14, 2024 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Metro Inc. stock
Metro Inc. finds support from accumulated volume at $74.40 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $1.84 between high and low, or 2.44%. For the last week the stock has had daily average volatility of 1.40%.
Our recommended stop-loss: $73.01 (-5.31%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 18 days ago.)
Trading Expectations (MRU.TO) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Metro Inc. to open at $76.56, and during the day (based on 14 day Average True Range), to move between $76.03 and $78.19, which gives a possible trading interval of +/-$1.08 (+/-1.40%) up or down from last closing price. If Metro Inc. takes out the full calculated possible swing range there will be an estimated 2.80% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $74.40, some $2.71 (3.51%) from the current price of $77.11, our system finds the risk reward attractive.
Is Metro Inc. stock A Buy?
Metro Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Metro Inc. of Wednesday, July 3, 2024
Fair opening price July 3, 2024 | Current price |
---|---|
$76.56 ( 0.709%) | $77.11 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MRU.TO
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 78.40 | 1.68% |
R2 | 77.70 | 0.766% |
R1 | 77.27 | 0.203% |
Price | 77.11 | |
S1 | 75.86 | -1.62% |
S2 | 75.43 | -2.18% |
S3 | 74.72 | -3.10% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0 | - |
R2 | 0 | - |
R1 | 0 | - |
Price | 77.11 | |
S1 | 74.40 | -3.51% |
S2 | 74.07 | -3.94% |
S3 | 72.63 | -5.81% |
MRU Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 14, 2024 | May 14, 2024 | Jun 04, 2024 | $0.335 | 0.448% |
2 | Jan 30, 2024 | Feb 14, 2024 | Mar 12, 2024 | $0.335 | 0.450% |
3 | Oct 26, 2023 | Oct 26, 2023 | Nov 14, 2023 | $0.303 | 0.400% |
4 | Aug 09, 2023 | Aug 29, 2023 | Sep 20, 2023 | $0.303 | 0.419% |
5 | May 09, 2023 | May 09, 2023 | May 30, 2023 | $0.303 | 0.418% |
FAQ
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